Source: (Photo by Marek Slusarczyk/Thinkstock.)
WASHINGTON — President Biden and House Speaker Kevin McCarthy have reached a deal to raise the debt ceiling for the next two years.
The plan includes some of what Republicans have been looking for such as efforts to curtail government spending. The deal is said to include what essentially amounts to a freeze in non-defense spending going through the next two fiscal years, while also placing stricter work requirements on able-bodied Americans who receive federal assistance.
The plan is getting some hefty criticism from Republicans. Last week as the deal was being made, Rep. Erin Houchin (R-IN-9th) said the GOP needs to stick to plans to cut spending.
“Right now we are spending $1.29 for every dollar we are bringing in,” she told Fox News. “No family in America can withstand that level of spending and neither can the government. We are asking in reductions in spending in exchange for a debt limit.”
Houchin has not said yet whether she supports the deal or not.
Other Republicans, like Rep. Chip Roy (R-TX-21st), are already coming out as “no” votes on the deal.
“There’s going to be a block of us that are a no,” he said. “I hope many more Republicans join us and stand up. I would like us to kill this (deal).”
President Biden said he’s confident that the deal will pass both chambers of Congress. He and McCarthy plan to make several phone calls and talk with lawmakers today to shore up support for the deal. The deal will likely be voted on in a committee hearing in the House on Wednesday.
The government is expected to default on its debt June 1st if a debt limit increase is not passed.
